Wilkinson Global Asset Management LLC Cuts Holdings in Intuit Inc. (NASDAQ:INTU)

Wilkinson Global Asset Management LLC lowered its position in Intuit Inc. (NASDAQ:INTU) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,501 shares of the software maker’s stock after selling 158 shares during the quarter. Intuit accounts for 2.5% of Wilkinson Global Asset Management LLC’s investment portfolio, making the stock its 19th biggest position. Wilkinson Global Asset Management LLC’s holdings in Intuit were worth $40,539,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Financial Advisors raised its stake in shares of Intuit by 0.9% in the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC raised its position in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after purchasing an additional 16 shares during the period. Chris Bulman Inc lifted its stake in shares of Intuit by 1.1% during the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after purchasing an additional 17 shares in the last quarter. Freedom Day Solutions LLC boosted its position in shares of Intuit by 0.4% in the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock worth $2,599,000 after buying an additional 17 shares during the period. Finally, Covenant Partners LLC grew its stake in shares of Intuit by 3.4% in the third quarter. Covenant Partners LLC now owns 521 shares of the software maker’s stock valued at $324,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Oppenheimer raised their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $579.94 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average price is $617.68 and its two-hundred day moving average price is $629.18. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market capitalization of $162.34 billion, a P/E ratio of 56.30, a P/E/G ratio of 2.89 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of Intuit stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the sale, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Company Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.